Despite Growth, Islamic Finance in Morocco Still Faces Big Challenges

Rabat - While hailing the considerable growth witnessed of late in Morocco’s “nascent” Islamic finance industry, a new report by Fitch Ratings has concluded that the sector's “growth potential” could face some major challenges in the future. 

Islamic mortgages fall under the umbrella term of Islamic finance, a sector that has shown substantial growth in recent years. February 2022 alone marked a 37% year-on-year growth within the bracket of Islamic finance for housing. Islamic mortgages differ from atypical mortgages as they do not bear any financial interest.

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